Log Out

Woodward, Inc. Announces Quarterly Dividend of $0.19 (NASDAQ:WWD)

kopsource · Sep 23, 2022 09:51

Woodward, Inc. (NASDAQ:WWD – Get Rating) announced a quarterly dividend on Wednesday, September 21st, Wall Street Journal reports. Stockholders of record on Monday, November 14th will be paid a dividend of 0.19 per share by the technology company on Monday, November 28th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Friday, November 11th.

Woodward has increased its dividend by an average of 4.5% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Woodward has a dividend payout ratio of 20.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Woodward to earn $3.80 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 20.0%.

Get Woodward alerts:

Woodward Stock Performance

Shares of WWD stock opened at $84.66 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.95 and a quick ratio of 1.77. The stock has a market cap of $5.09 billion, a PE ratio of 32.44, a price-to-earnings-growth ratio of 2.44 and a beta of 1.49. The stock has a 50-day moving average of $96.42 and a 200-day moving average of $103.17. Woodward has a one year low of $84.29 and a one year high of $129.12.

Woodward (NASDAQ:WWD – Get Rating) last released its quarterly earnings results on Monday, August 1st. The technology company reported $0.64 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.27). The firm had revenue of $614.33 million for the quarter, compared to analyst estimates of $625.04 million. Woodward had a return on equity of 8.38% and a net margin of 7.24%. The company's revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. As a group, sell-side analysts expect that Woodward will post 2.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on WWD. Wells Fargo & Company dropped their price target on Woodward from $117.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 2nd. Truist Financial cut Woodward from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $121.00 to $88.00 in a research report on Tuesday, August 2nd. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $90.00 price objective on shares of Woodward in a research report on Wednesday, September 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $107.86.

Insider Activity

In other news, CEO Charles P. Blankenship purchased 500 shares of the company's stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average price of $94.97 per share, with a total value of $47,485.00. Following the transaction, the chief executive officer now directly owns 37,100 shares of the company's stock, valued at $3,523,387. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Mark D. Hartman sold 5,300 shares of the business's stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $92.21, for a total transaction of $488,713.00. Following the sale, the chief financial officer now directly owns 2,585 shares in the company, valued at approximately $238,362.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles P. Blankenship acquired 500 shares of the firm's stock in a transaction that occurred on Wednesday, August 3rd. The shares were bought at an average price of $94.97 per share, for a total transaction of $47,485.00. Following the completion of the purchase, the chief executive officer now owns 37,100 shares in the company, valued at approximately $3,523,387. The disclosure for this purchase can be found here. Insiders have bought 17,100 shares of company stock valued at $1,622,371 in the last 90 days. Insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On Woodward

Institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors increased its position in shares of Woodward by 46.9% during the 1st quarter. Captrust Financial Advisors now owns 877 shares of the technology company's stock valued at $110,000 after purchasing an additional 280 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Woodward during the 2nd quarter valued at about $213,000. Neuberger Berman Group LLC purchased a new stake in Woodward in the 1st quarter worth approximately $319,000. Utah Retirement Systems lifted its holdings in Woodward by 6.7% in the 1st quarter. Utah Retirement Systems now owns 3,200 shares of the technology company's stock worth $400,000 after buying an additional 200 shares during the period. Finally, APG Asset Management N.V. purchased a new stake in Woodward in the 1st quarter worth approximately $516,000. 84.00% of the stock is currently owned by institutional investors.

Woodward Company Profile

(Get Rating)

Woodward, Inc designs, manufactures, and services control solutions for the aerospace and industrial markets worldwide. The company operates through two segments: Aerospace and Industrial. The Aerospace segment provides fuel pumps, metering units, actuators, air valves, specialty valves, fuel nozzles, and thrust reverser actuation systems for turbine engines and nacelles, and flight deck controls, actuators, servocontrols, motors, and sensors for aircraft.